The market maker of new bonds of Industrial Construction Investment Corporation Accord OJSC will be the International Bank of Azerbaijan. The Bank will provide liquidity of securities of the Corporation during their three years of treatment.
The Department of Public Relations of the Corporation Accord told Turan the yield on the bonds will be 11.75 % per annum. IBA will guarantee the purchase and sale of corporate bonds in a certain quantity and price range. Recall that there have been issued 50,000 bonds with par value of AZN 1,000 each.
Placement of the bonds will be done by LLC International Transaction System, which, as a rule, acts as a broker of the International Bank of Azerbaijan.
Accord first issued bonds in the same amount in 2010. The underwriter of the bonds was LLC Tekhnika Capital Management. The bonds of Accord with the yield of 12% were bought up by local financial companies (banks and insurance companies). Full repayment of the bonds of the first issue ended on 7 November. - 08D-
Economics
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review